Veterans Day Sheds Light On Housing Issues

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With the passing of Veterans Day, The Federal Savings Bank sheds light on the reality of the situation for many veterans in America.

VA and FHA home loans at The Federal Savings Bank

The Federal Savings Bank

40 percent of New York City veterans equals about 95,000 veterans who rely on food banks in order to eat.

Following the celebrations of Veterans Day, the issues that impact U.S. veterans has been shoved into the limelight. It is an unfortunate truth that a large portion of veterans need government assistance for basic necessities such as food and housing. Despite options such as a VA home loan, or Interest Rate Reduction Refinance Loan offered through veteran owned lenders such as The Federal Savings Bank, veterans often face employment and income issues that make it difficult to get a mortgage.

"On this Veterans Day, when we're waving our flags - I need every New Yorker to know - 40 percent of New York City veterans are relying on soup kitchens and pantries," Margarette Purvis, president and CEO of the Food Bank for New York City, told CBS. "That is not a guesstimate; that is a fact."

40 percent of New York City veterans equals about 95,000 veterans who rely on food banks in order to eat. Purvis also stated that cuts for the federal Supplemental Nutrition Assistance Program could potentially make the problem worse in the future.

Beyond food assistance, many veterans face homelessness after returning from duty. Veterans Day shed light on the situation as many different cities honored and surprised servicemen and servicewomen with permanent housing.

One such area was Battle Creek, Mich., where 100 homeless veterans were housed in a residential building at Silver Star Apartments. According to West Michigan's Fox 17 News, 75 units were built in 2009 and completed three months ago. In addition to providing a roof over the heads of veterans, these apartments come fully furnished. Michigan's Republican Governor Rick Snyder stated that the housing project is a good start toward helping veterans, but there is more work to be done.

Contact the Federal Savings Bank, for affordable mortgage options for eligible veterans.

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